Egypt’s Suez Cement Q2 net profit tumbles 57%

CAIRO: Suez Cement, Egypt’s largest listed cement maker by market value, posted a second-quarter net profit of 60.9 million Egyptian pounds ($7.8 million) on Tuesday, down from 142.5 million a year earlier.

The company said revenue fell 15 percent hurt by lower prices and exports.

Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which “affected negatively the company’s profits”.